The type of plan of a company, which quantities the expectations of cash flows, income and financial position is known as ___________?
A. budget B. batching C. complexity D. process
Accounting MCQs with Answers
An act of making sure, that all the employees must understand the goals is classified as ___________?
A. coordination B. communication C. annual profit plan D. budgeting
The non-financial and financial aspects of the plan by the company management, is classified as ___________?
A. complexity B. process C. budget D. batching
The mathematical relationships exist between operating and financing activities that affect master budget are called _____________?
A. math plan model B. financial planning models C. operating plan models D. master plan models
The type of accounting, which focuses on whom should be asked for information and whom not, will be categorized as ____________?
A. focused accounting B. responsibility accounting C. information accounting D. blame accounting
If the budget sales units are 2000, an ending inventory is 3000 units and the beginning inventory is 1000, then the budget production would be ______________?
A. 6000 units B. 4000 units C. no units D. 8000 units
The master budget includes all the projections of company’s budget and focuses on __________?
A. serial correlation B. marketing plan C. financial plan D. both B and C
The what-if technique, which examines changes in results, if original prediction would not be achieved is called _____________?
A. change analysis B. original analysis C. sensitivity analysis D. predicted analysis
The budget which specifies an operating and financial plan, usually for a fiscal year or any specific period of time is classified as ___________?
A. annual budget B. operating budget C. specific budget D. master budget
The second step in developing operating budget is to ___________?
A. plan coordination B. plan accounts C. obtain information D. coverage information